Seacera's unit sued for RM25.6m in unpaid taxes

KUALA LUMPUR (Feb 18): Seacera Group Bhd's major subsidiary Duta Skyline Sdn Bhd is being sued by the Inland Revenue Board (IRB) for RM25.62 million in outstanding tax payments.

In a bourse filing today, Seacera said Duta Skyline was yesterday (Feb 17) served with a statement of claim and writ of summons by IRB. Duta Skyline holds assets of more than 70% within the Seacera group.

IRB is also seeking interest at the rate of 5% per year from the date of judgment until the full realisation date, costs and any other relief the court may deem fit.

"The company is currently seeking professional legal advice and will make further announcement on any material development on this matter," Seacera said, adding that it does not see any operational and financial impacts from this legal suit.

"No major impact as the amount alleged if awarded by the court in favour of IRB will be borne by Datuk Ismail Othman, the vendor and previous indirect shareholder of Duta Skyline.

The case management has been fixed by the court on Feb 26.

At 5pm, Seacera shares were up one sen or 3.92% at 26.5 sen, with 690,200 shares traded, bringing it a market capitalisation of RM125.29 million.

Click here to see commercial property for rent in Kuala Lumpur.

Click here for more property stories.